I propose to take Questions Nos. 884 and 885 together.
The local authority mortgage protection insurance scheme is overseen by the Mortgage Protection Committee which is a sub-committee of the County and City Managers association (CCMA) and is representative of the CCMA, local authorities, the Housing Finance Agency and my Department.
Participation in the mortgage protection insurance scheme is compulsory for local authority house purchase loans for social and affordable housing. In terms of comparison to other schemes of mortgage protection, it is important to note that it covers disability as well as death. The Mortgage Protection Committee which oversees the scheme endeavours to achieve a balance between the most economic rate to be charged for the scheme and the benefits provided.
The Mortgage Protection Committee held a tender competition in 2008 which resulted in the introduction of a new scheme as of 1 January 2009. This new scheme contains a number of significant new benefits, including incorporation of the rental portion of shared ownership, as well as a lower premium for borrowers. The operation of the scheme is monitored closely on an ongoing basis by the Committee.